The scrip zoomed to end at its 20% upper circuit at Rs 84. The counter clocked volumes of 18.67 lakh shares as compared to the two-week daily average traded volumes of 1.59 lakh shares on the BSE.
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(Updated at 0925hrs)
Mount Everest Mineral Water has raced ahead after Tata Tea upped its stake in the company to 50%. The mineral water company is trading at Rs 78, stronger by Rs 9 or 13%, on the BSE. The stock had opened at Rs 73, which was also the day's low, and a high of Rs 79 thus far.
Aimed at consolidating similar businesses under a single roof, Tata Tea, which had gradually increased its stake in Mount Everest Mineral Water over 10 months, has now acquired management control, with a 50.24 per cent stake.
Insiders say Tata Tea is now likely to merge the mineral water company with itself.
The volumes on the counter have zoomed to 3.51 crore shares as against the two-week average of 1.59 crore shares.
